Synthetix founder launches new platform Infinex, aiming to surpass Binance with a new DeFi experience

Developed by Synthetix founder Kane Warwick, the new platform Infinex is aiming to revolutionize the interaction of decentralized finance (DeFi) across chains, providing a seamless user experience. Warwick, in an interview with the media outlet Bankless, expressed that the complexity of DeFi should be simplified to facilitate broader adoption, eliminating the need for users to understand different interfaces, private keys, or chain switching. Infinex seeks to integrate the best DeFi features into a streamlined interface.

Kane Warwick's Vision for Infinex

As the founder of Synthetix and the current Infinex, Kane Warwick has just raised $65 million for Infinex.

Warwick believes that the current decentralized application dApps ecosystem is too fragmented, making it difficult for users to fully engage. DeFi applications are spread across multiple chains such as Ethereum, Solana, and Cosmos, each chain having unique products, but users have to deal with different interfaces, which is not ideal for user experience.

Warwick's idea is that DeFi is actually superior to centralized exchanges like Binance, but the only fatal flaw is the decentralized user experience. Infinex aims to simplify cross-chain operations by using tools such as Gelato and Near to create a seamless interface integrating DeFi applications.

The Future of Cryptocurrency Adoption: One Interface, Multiple Chains

Warwick believes that Infinex will be the place where many Ethereum enthusiasts will make their first Solana trades, possibly without even realizing it. The seamless interface of the platform allows users to engage without the need to learn or understand the technical details of each chain. This simplification is key to attracting the next wave of users into the DeFi space, with Warwick believing that the challenge is not about getting more people to accept self-custody of private keys or learn complex DeFi platforms, but to develop technology that abstracts these complexities in the background.

A One-Stop Solution for All DeFi Applications

Infinex aims to integrate the best features of the DeFi space into one interface, eliminating the need for users to manage different wallets or learn cross-chain asset exchanges. Whether you hold Litecoin LTC or Ripple XRP, assets traditionally held on centralized exchanges, Infinex can easily integrate them into the DeFi space. Warwick believes that by doing so, Infinex can unlock the next generation of cryptocurrency users.

Warwick's goal is to cater to the needs of ordinary users who rely on centralized exchanges like Binance. He points out that self-custody and private keys are too complicated for mass adoption, and what the industry needs is a technology experience that operates seamlessly "like traditional banking apps."

Infinex aims to address the decentralization issue in the DeFi ecosystem. For example, decentralized exchanges like Uniswap and lending protocols like Aave operate independently on different chains, requiring users to manually interact with them, often needing to exchange assets across multiple chains, which can be cumbersome. Infinex solves this problem by integrating multiple DeFi applications and protocols on chains like Ethereum and Solana, allowing users to perform cross-chain operations without worrying about the underlying technical processes.

Infinex's $65 Million Sponsorship Sale

Infinex recently successfully completed a $65 million sponsorship sale, with 300 to 500 sponsors, including influential figures from the Ethereum and Solana ecosystems, purchasing NFTs representing sponsorship. These sponsors will play a crucial role in promoting and testing the platform, helping Infinex achieve widespread adoption.

The sponsorship model provides a decentralized way to align users and developers towards a common goal. Warwick emphasizes that in such a competitive space, having strong community support is crucial for the platform's success. By harnessing the power of DeFi experts, developers, and influencers, Infinex will be able to leverage its sponsor base to foster trust and credibility.

Infinex: Aiming to Surpass Binance

Infinex is not just targeting crypto users familiar with DeFi; its goal is to replace centralized exchanges like Binance. Warwick believes that centralized exchanges are transitional products in the development of cryptocurrencies, and decentralized alternatives like Infinex will eventually take their place. Infinex offers all the features users expect from centralized platforms, such as spot trading, staking, and lending. The key difference is that Infinex maintains non-custodial services, allowing users to control their funds without relying on third-party services to store their assets.

Warwick explains that the next step in cryptocurrency development is how to meet user needs without forcing them to learn complex systems or manage multiple wallets. Infinex is at the forefront of leading this change, simplifying the user experience while still providing a world of decentralized finance.

Warwick believes that in a few years, Infinex will have all the key features of Binance. However, it will be non-custodial, providing users with higher security without sacrificing convenience.

Looking ahead, Infinex plans to integrate with more DeFi applications and chains, including supporting assets like Bitcoin BTC and Litecoin. The platform aims to have all the same features as Binance by 2025, but in a decentralized manner.

Warwick believes that offering a wide range of financial services, coupled with an easy-to-use interface, will make Infinex the central hub of the DeFi world.